Monzo has introduced Monzo Split, a service which allows users to settle shared costs and expenses from different accounts.

The neobank said the new service combines with a previous feature, called Running splits, which allows Monzo account holders to split shared costs with one-off bill splitting.

The new service allows Monzo account holders to settle up with anyone, even if they do not bank with Monzo or live outside of the UK.

Additionally, the service allows for partial payments and users can settle expenses from different accounts.

Monzo said the service is designed for ongoing expenses such as household bills or group trips.

The service allows users to track and manage multiple expenses over time and “does the maths for you” when it is time to settle up.

Users who do not have a Monzo account can join as guests, adding their own expenses to split and track.

Monzo said that splits can be personalised with names and background images.

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